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China's biggest domestic oil refiner is the highest-ranked Chinese company ever on the Global 500. Thanks to the fast-growing Chinese economy's ravenous need for fuel and some
generous state subsidies, Sinopec's revenues grew 33%, and profits grew 39%. But because gasoline prices are capped in China, it earned only $3.7 billion in profits on sales of
$132 billion. Sinopec's leaders are lobbying Beijing to lift the price controls.